Former Malaysian Premier Najib arrested amid graft probe

Shannon Reynolds |Thursday, July 05, 2018

Rosmah's son, Riza Aziz, arrives at MACC to have statement recorded

Former Malaysian prime minister Najib Razak (L) arrives in court in Kuala Lumpur, Malaysia July 4, 2018. Each charge carries a maximum prison sentence of 20 years while the graft charge entails an additional fine of at least five times the value of gratification.

The charges are in connection with how RM42 million ringgit (US$10.6 million) went from SRC International, a former 1MDB unit, into Najib's personal bank account.

Malaysia's former central bank head on Tuesday denied she was aware of a large sum deposited in ex-Prime Minister Najib Razak's account in 2013, adding that he later asked her to issue a statement saying "he had done nothing wrong". "Wait for our statement", the source said. One of the sources said Najib was expected to be charged in court on Wednesday.

Najib has repeatedly denied any wrongdoing, but the existence and tone of the video, in which he appears humble but doesn't concede any guilt, indicates Najib knew he would shortly be arrested and had begun preparing for a legal and public opinion battle.

Najib was arrested at his home on Tuesday, less than two months after an unexpected election defeat to a coalition led by his mentor-turned-foe Mahathir Mohamad.

It's no doubt that this situation is tough on Najib's family, especially for his children.

During a press conference at the Kuala Lumpur High Court, he said the prosecution will challenge the gag-order on Aug 8, which the High Court has fixed for case management.

The MACC, however, did not specify the charges he will face.

Apart from the probe into Red Granite Pictures, the DOJ has also embarked on its biggest-ever Kleptocracy Asset Recovery Initiative to claim assets worth US$4.5 billion which was allegedly embezzled from 1MDB between 2009 and 2014 and laundered globally.

SRC, created in 2011 by Najib's government to pursue overseas investments in energy resources, was a unit of 1MDB until it was moved to the finance ministry in 2012.

He described the upcoming trial as being the "best opportunity" for him to clear his name.

Malaysian police say they have seized almost $275 million worth of jewelry, handbags, watches and cash from premises linked to Najib, while authorities have frozen more than 400 bank accounts as part of the 1MDB probe.

The initial focus of the Malaysian Anti-Corruption Commission (MACC) investigation has focused on how 42 million ringgit ($10.6 million) went from SRC International into Najib's account.

"Let investigations be carried out". Najib said the funds were a donation from a Saudi royal.

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